The Manitoba Securities Commission (MSC) on Monday announced that its most recent victim of a binary options scheme is an unnamed 81-year old widow who lost her $28,000 life savings by dealing with a firm purportedly located in Moldova, IseeBinary.com.
She invested by wiring her money to the bank account of a firm called Option Ventures, also based in Moldova.
Neither firm is registered to sell securities in Manitoba, the MSC says in its announcement, adding both firms are in violation of the province’s securities laws.
“The victim, invested $28,000, all the savings that she had. She became aware that it was a scam when the advisor told her that he was being fired by Iseebinary.com because he could not get any more money out of her,” says Len Terlinski, an investigator with the MSC, in a statement.
The MSC reiterated its warnings about binary options firms, noting that there are no firms in this business that are registered in the province.